Whilst watching TV last night, The Apprentice series reminds me why I left corporate life for the quiet calm waters of Moray ! Though everything is not plain sailing at present, what with the 'credit crunch' and stagnant house prices in England - Lets hope the Scottish market doesn't follow suit.
However, there is better news for landlords. Worry about the future of the property market has boosted demand for homes to rent – and the money that can be charged for them, the Royal Institution of Chartered Surveyors (RICS) has reported.
But not all properties are equal. Demand is continuing to grow strongly for houses, while the oversupply of new-build properties is depressing the rent increases being achieved for flats.
Matthew at Moray Rentals attributes the hunger for houses to families who have sold up choosing to delay their next purchase while prices are reported to be stagnating or falling. Though it is still a buyers market people do appear to be hedging their bets and waiting to see what the economy does.
The rental market typically flourishes in a property downturn. However when I look in the local press, all I see is planning applications for new developments - mostly for flats. This is where the money lies for the developer, but currently not for the investor.
If you are looking to invest in property, as always research your market first, given the choice between a £150k house or flat in the present market is like being given the choice between a jam doughnut and a digestive biscuit. I know which I would choose !
Though it does seem that many people are still 'buying in' to the digestive option, through the developers lifestyle and marketing promotions. Only in time will these investors realise that they should have picked the jam doughnut, which would have sustained them for much longer !
Tenants meanwhile will have to consolidate themselves with the fact that they don't have to worry about the predicted market slowdown or crash, however they may shortly have to bear the brunt of increasing rental prices.
Time to get the tea and doughnuts out.....
Until next time.
Mr Jackson.
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With too many years to recall under my ever expanding belt in the landlord, property investment and estate agent business the chaps at Moray Property asked if I would endeavour to write a blog for their website. I agreed, providing they kept me topped up with mugs of tea, homemade cake and a Wi-Fi connection. I hope that buyers, sellers, landlords and tenants, both existing and prospective may find it useful and informative.
About Me
- Mr Jackson
- Findhorn, Moray, United Kingdom
- Full time Property Investor / Speculator / Renovator from 'Down South'. Husband, Dad & Grandad. Kids Entertainer & Taxi Service
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